EnLink Midstream, LLC (NYSE:ENLC) Holdings Decreased by BNP Paribas Financial Markets

BNP Paribas Financial Markets lessened its stake in EnLink Midstream, LLC (NYSE:ENLC) by 78.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 171,963 shares of the pipeline company’s stock after selling 634,328 shares during the quarter. BNP Paribas Financial Markets’ holdings in EnLink Midstream were worth $2,495,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of ENLC. ORG Partners LLC acquired a new stake in shares of EnLink Midstream in the 2nd quarter worth approximately $28,000. Newbridge Financial Services Group Inc. acquired a new stake in EnLink Midstream in the second quarter worth approximately $56,000. First Horizon Advisors Inc. boosted its stake in EnLink Midstream by 12.5% during the 2nd quarter. First Horizon Advisors Inc. now owns 7,702 shares of the pipeline company’s stock valued at $106,000 after purchasing an additional 853 shares in the last quarter. Sunbelt Securities Inc. increased its position in shares of EnLink Midstream by 21.9% during the 2nd quarter. Sunbelt Securities Inc. now owns 8,396 shares of the pipeline company’s stock valued at $116,000 after purchasing an additional 1,511 shares during the period. Finally, Inscription Capital LLC bought a new stake in shares of EnLink Midstream in the 3rd quarter worth $154,000. Institutional investors and hedge funds own 45.87% of the company’s stock.

Wall Street Analyst Weigh In

ENLC has been the topic of a number of research analyst reports. Raymond James lowered EnLink Midstream from an “outperform” rating to a “market perform” rating in a report on Friday, November 8th. US Capital Advisors lowered shares of EnLink Midstream from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Mizuho restated a “neutral” rating and issued a $15.00 price target on shares of EnLink Midstream in a research report on Thursday, October 31st. Morgan Stanley downgraded EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 price objective for the company. in a research report on Monday, September 16th. Finally, Capital One Financial restated an “equal weight” rating and issued a $16.00 target price on shares of EnLink Midstream in a report on Tuesday, September 3rd. Eleven investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $15.40.

EnLink Midstream Stock Down 0.9 %

NYSE:ENLC opened at $15.34 on Friday. The business’s fifty day moving average price is $15.11 and its 200 day moving average price is $14.09. The firm has a market capitalization of $7.01 billion, a price-to-earnings ratio of 73.02 and a beta of 2.44. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 2.30. EnLink Midstream, LLC has a 1-year low of $11.53 and a 1-year high of $16.40.

EnLink Midstream (NYSE:ENLC) last issued its earnings results on Wednesday, November 6th. The pipeline company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.16). The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.98 billion. EnLink Midstream had a net margin of 1.96% and a return on equity of 9.51%. EnLink Midstream’s revenue for the quarter was down 7.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.10 EPS. On average, sell-side analysts forecast that EnLink Midstream, LLC will post 0.51 earnings per share for the current fiscal year.

EnLink Midstream Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were paid a dividend of $0.1325 per share. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date of this dividend was Friday, November 1st. EnLink Midstream’s dividend payout ratio (DPR) is currently 252.38%.

Insider Activity

In other news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of EnLink Midstream stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $14.90, for a total transaction of $2,985,077,219.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.84% of the stock is currently owned by corporate insiders.

EnLink Midstream Company Profile

EnLink Midstream, LLC provides midstream energy services in the United States. The company operates through Permian, Louisiana, Oklahoma, North Texas, and Corporate segments. It is involved in gathering, compressing, treating, processing, transporting, storing, and selling natural gas; fractionating, transporting, storing, and selling natural gas liquids; and gathering, transporting, stabilizing, storing, trans-loading, and selling crude oil and condensate, as well as providing brine disposal services.